Mr. A and B both exchange their house property and no extra consideration is paid by either one.
Value of property of A - 35 Lakh
Value of property of B - 30 Lakh
Exchange deed is executed and registered.
Will there be LTCG?
if yes,
Can they claim exemption under section 54 as they gave a house property and in liu received a house property.
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LTCG on exchange of house property.
Replies (1)
1. Yes to both ........
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